Property listed by Realty Investment Advisors, Inc., Benjamin J. Hsiang
$999,000
We are pleased to present 3939 W. 28th Street, a rare four-unit multifamily opportunity located in the highly desirable West Adams / Jefferson Park neighborhood of Los Angeles. This well-located asset sits on a large 8,542 square foot R3-zoned lot and offers significant upside through both rental repositioning and future… Read More redevelopment potential. The property consists of four spacious two-bedroom, one-bathroom units totaling approximately 3,199 square feet. Two units will be delivered vacant at the close of escrow, providing an immediate opportunity for an owner-user to occupy a unit while generating income from the remaining units, or for an investor to renovate and achieve market rents. Each unit benefits from an outdoor deck space, offering tenants a highly desirable indoor-outdoor living experience that is increasingly sought after in the West Adams market. Additionally, the property is equipped with individual gas meters, electricity meters and water heaters for each unit, helping to minimize operational complexity and reduce shared utility expenses. Current rents are significantly below market, with pro forma rents projected at approximately $2,100 per unit, offering a clear path to increased cash flow and a stabilized return of approximately 7.07% on a pro forma basis . The property also benefits from four on-site parking spaces, a valuable amenity in this supply-constrained rental market. Situated within a TOC Tier 3 designation, the property presents an attractive long-term redevelopment opportunity for investors seeking to capitalize on increased density incentives (buyer to verify). The large lot size and favorable zoning provide flexibility for future expansion or new construction. Additionally, the asset qualifies for residential financing, including 30-year fixed-rate loans, making it accessible to both investors and owner-users. 3939 W. 28th Street represents a unique opportunity to acquire a well-located asset with immediate vacancy upside, strong rental growth potential, and long-term development optionality in one of Los Angeles' most rapidly evolving submarkets. Read Less
Listing Snapshot
Days Online
8
Last Updated
Beds
8
Square Ft.
3,199
Lot Size
0.2 Acres
Year Built
1922
MLS Number
26669289
Additional Details
Building
Built in 1922, Living area: 3199.0, 2 buildings, 2 stories, Levels: MultiSplit
Heating
WallFurnace
Income
Gross Income: $69,600, Net Operating Income: $40,325
Lot
0.1962 acres
Parking
4 total parking spaces, Assigned
Taxes
Parcel Number: 5051015013, Zoning: LAR3
Tenant Pays
Electricity, Gas, TrashCollection
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Based on information from California Regional Multiple Listing Service, Inc. as of and/or other sources. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.
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